Elon Musk Reportedly Wants to Eliminate Half of Twitter Jobs to Cut Costs

Elon Musk is reportedly planning to eliminate around 3,700 jobs at Twitter, which is about half of the company's workforce, to cut costs, according to Bloomberg's report. The new owner will inform the employees on Friday, said the people familiar with the matter. 

What's more, the remaining staff will be asked to go back to work from the office, with some exceptions possible. Musk and his team are allegedly discussing the terms of the job cuts, some insiders say the laid-off workers might be offered 60 days' worth of severance pay.

This is not the first bout of such activity in the company: after Musk bought Twitter for $44 billion, he let go of some top executives, including CEO Parag Agrawal. He also announced the blue checks indicating verified notable accounts would cost $8 a month.

Twitter representatives haven't commented on the news of cutting down its workforce, so stay tuned, read Bloomberg's article, and don't forget to join our Reddit page and our Telegram channel, follow us on Instagram and Twitter, where we share breakdowns, the latest news, awesome artworks, and more.